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Vice-Premier Stresses Sustained Economic Development
China should promote sustained development of its national economy through technological upgrading, enhanced competitiveness of enterprises, a better economic order and a good social security system, said Vice- Premier Wu Bangguo during a visit in central China's Hubei Province, which ended Friday.
Wu, also a member of the Political Bureau of the Chinese Communist Party Central Committee, said the first half of this year witnessed stable growth of China's economy, with surging industrial and economic output.
Statistics show that in the January-May period, major industries in China made a total profit of 166.97 billion yuan (about 20 billion U.S. dollars), up 30.4 percent year-on-year. Profits made by state-owned enterprises (SOEs) reached 90.5 billion yuan (about 11 billion U.S. dollars), up 31.5 percent on an annual basis.
However, the vice-premier said, that the changing international economic environment has an increasing side-effect on China's economic development, which is confronted with a number of difficulties and problems.
To cope with the situation, Wu said the SOEs must step up the restructuring and technological upgrading, so as to be more competitive in the market.
A better economic order in the market is crucial to China's reform, development and stability, said Wu. He called on governments at all levels to crack down on the manufacturing and selling of counterfeit goods and promote fair competition among the enterprises.
Meanwhile, Wu stressed the importance of building a social security system, and called for more efforts on the training and re-employment of laid-off workers.
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